We have not seen the amount of secondary equity issuance that we think needs to happen, says Kevin Latter
The head of investment bank J.P. Morgan’s local franchise says the restrictions placed on companies by shareholders which prevents them from issuing shares quickly during emergencies is out of line with other markets in the rest of the world and should be revised in order to give local corporates another means of navigating their way through the Covid-19 pandemic.
"SA institutions keep a tight rein on the ability of corporates to issue shares, as is evident in the resolutions tabled at annual general meetings," senior country officer for sub-Saharan Africa Kevin Latter said.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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